Home Tax Credit Extension Update
Senate Banking Committee Chairman Chris Dodd, D-Conn., said top Dems agreed to extend the 1st-time homebuyer tax credit, set to expire Nov. 30. Bloomberg reported Senators are near a deal to extend the program to home sales signed — not closed — by April 30. The credit would be cut 10% to $7,290, but those who've owned their current home for at least 5 years also would be eligible.